Handbook of Key Global Financial Markets, Institutions, and Infrastructure

Chapter 53

Finance

J.W. Head

University of Kansas School of Law, Lawrence, KS, USA

Outline

Introduction

Cash in Advance

Documentary Sale with Confirmed Letter of Credit

Key Steps in a Documentary Sale Transaction with a Confirmed Letter of Credit

The Legal Fundamentals of International Letters of Credit

The Principle of Strict Compliance

The Independence Principle and Its Exceptions

Conclusion on Documentary Sales and Letters of Credit

Open Account

Commercially Based Working Capital Financing

Export Credit Insurance and Financing

Export Credit Insurance

Government-Guaranteed Export Working Capital Programs

Government-Assisted Foreign Buyer Financing

Factoring and Forfaiting

Factoring

Forfaiting

Additional Points

Further Reading

Introduction ...